The Science Based Targets initiative (SBTi) has announced that it will be seeking additional comments on five core areas as part of the revision of its Corporate Net Zero Standard. The initiative has established expert working groups to consult on the five topics and is intending to issue a second public consultation in March. The proposed changes will include clarity on tailoring requirements based on company size and geography, measures to help companies monitor progress and transparency, better target-setting for value chain (Scope 3) emissions, support for reducing residual emissions through interim targets and alignment with other SBTi standards. “Reaching net zero is never going to be straightforward. But the guidance to get businesses there should be. The additional consultations announced today will support the development of a revised Corporate Net Zero Standard that works for businesses and accelerates climate action,” said Tracy Wyman, SBTi’s Chief Impact Officer. SBTi’s first Corporate Net Zero Standard was launched in 2021, at a time when, according to SBTi, there was no consistent definition of net zero in corporate climate target-setting. “We have come a long way since then – today more than 1500 businesses have net zero aligned targets,” said Alberto Carillo Pineda, SBTi’s Chief Technical Officer. “The feedback we have gathered since the release of the first version of the standard has been invaluable in helping us identify opportunities to strengthen it.” SBTi appointed a new CEO, David Kennedy, at the start of this year. His predecessor, Luiz Amaral, stepped down in 2024 amidst controversy over plans to allow use of carbon credits to offset Scope 3 emissions.
